Sector: Consumer Cyclicals | Industry: Homebuilding |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 18655 North Claret Drive, Suite 400 SCOTTSDALE AZ 85255 |
Tel: | 1-480-5158979 |
Website: | https://www.meritagehomes.com |
IR: | See website |
Key People | ||
Steven J. Hilton Executive Chairman of the Board | Phillippe Lord Chief Executive Officer, Director | Hilla Sferruzza Chief Financial Officer, Executive Vice President |
Clinton Szubinski Chief Operating Officer, Executive Vice President | Javier Feliciano Chief People Officer, Executive Vice President | Malissia R. Clinton Executive Vice President, General Counsel, Secretary |
Business Overview |
Meritage Homes Corporation is a designer and builder of single-family attached and detached homes. Its segments include Homebuilding and Financial Services. The Homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes and providing warranty and customer services. The Financial Services segment offer title and escrow, mortgage, and insurance services. It has operations in three regions: West, Central and East, which are comprised of 10 states: Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee. These three regions are its principal homebuilding reporting segments. Its homebuilding activities are conducted under the name of Meritage Homes in each of its homebuilding markets. It also operates Carefree Title Agency, Inc., its wholly owned title company, which provides title insurance and closing/settlement services to its homebuyers in certain states. |
Financial Overview |
For the fiscal year ended 31 December 2023, Meritage Homes Corp revenues decreased 2% to $6.14B. Net income decreased 26% to $738.7M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects General and administrative expenses increase of 20% to $231.7M (expense), Net earnings of unconsolidated entities increase from $6M (income) to $656K (expense). |
Employees: | 1,838 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $6,433M as of Dec 31, 2023 |
Annual revenue (TTM): | $6,138M as of Dec 31, 2023 |
EBITDA (TTM): | $976.33M as of Dec 31, 2023 |
Net annual income (TTM): | $738.75M as of Dec 31, 2023 |
Free cash flow (TTM): | $277.85M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $86.99M as of Dec 31, 2023 |
Shares outstanding: | 36,169,394 as of Feb 7, 2024 |
Index Membership: | S&P 600 Small Cap |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |